How to play Sport Setting in Singapore
Ever since there have been athletic competitions there have been people determined to bet on the result. Both the ancient Greek and Romans were engaged in this practice. In the last two centuries, the most favored game to bet on was harness racing. Usually these events were reserved to the upper classes of society. But once with the introduction of TVs and sports magazines it soon became a favorite of everyone.
The practice soon became a multi-billion dollar industry. Whether it’s horse racing, boxing, basketball, tennis, soccer, or any other sport you can think of, betting on athletic events has exploded all over the world.
Internet Sports Betting
While traditional bookmakers are still extremely popular, more and more people are switching over to internet-based sports betting. In short, online sports betting is the act of placing bets on certain sport events over the internet at so-called online sports betting sites or online bookmakers.
Online sports betting was amongst the first gaming activities to be introduced to the internet due to the fact that real life sports betting is extremely popular in Singapore. The first companies to offer internet sports betting services were the large land-based sports betting companies that realized the huge potential in this type of gaming.
Online sports betting offers a large number of advantages over sports betting in traditional betting shops. In online sports betting, bettors will have the opportunity to bet from home while watching games and checking results in real time. Betting shops are usually overcrowded making it difficult for the bettors to conduct real time research.
Live Sports Betting
Online betting is capable of providing something that “real life” betting cannot, which is real-time live betting. Live betting offers bettors the opportunity to bet on certain betting options while a game in question is happening in real time. In traditional betting, bets must be placed before the start of the games that are being selected.
Live betting can be extremely profitable because the bettor is able to watch a game in real time and based on each team’s performance, he or she can take real time – often very accurate – decisions. Latest statistics reveal that live betting generates the most revenues in sports betting.
Betting over the internet offers more betting possibilities than betting in traditional betting shops. Most online sportsbooks offer betting possibilities on almost every single sports event taking place on the planet. Due to technical challenges traditional betting shops are not able to offer such services.
How Sports Betting Works
A typical betting ticket on a sports event usually presents three options: Team A wins, draw or Team B wins (depending on the type of sport activity in question). Each of these options has a quota or winning probability attached to it. If the bettor’s prediction turns out to be correct, then the bet placed on the respective sports event will be multiplied with the related quota.
The betting quota that’s displayed for a certain option is decided using multiple factors. Most commonly the winning multiplier is based on the amounts of bets placed by bettors on each option. The bookmaker’s goal is always to establish the payout multipliers in such a way that at the end of the day the money paid out to winners will be covered by the money lost by the losers.
In online sports betting bettors will notice the “line” or the betting odds shifting in real time based on the bets placed by other bettors in real time. This is why timing is essential and can ensure substantial winnings. This is yet another reason why online sports betting is more advantageous than traditional sports betting.
Is Sports Betting Based on Luck or on Strategy?
People without any experience in sports betting will say that sports betting is based on luck and is the same as gambling. In reality sports betting cannot be called gambling because it mostly depends on strategy and insight into the sport event at hand.
There are many sports bettors who just bet for fun and don’t have the necessary insight into sports to generate consistent winnings. The existence of these players is extremely beneficial because they are the ones generating the money the bookmaker will pay out to those people who are able to generate consistent winnings.
Managing to accurately predict the result of a sports event is not easy but those who have a good insight and are genuinely passionate about sports are perfectly able to generate consistent winnings. Naturally “luck” will also play an important role because it’s never possible to 100% accurately predict what team will win. However, most of the time experienced bettors are perfectly able to accurately predict their bets.
Mobile Sports Betting
A new trend that’s catching on is mobile sports betting. Modern technology permits bookmakers to develop and offer apps that can be installed on smartphones and tablets that allow people to bet on sports events from their mobile devices.
This way bettors may even bet on a sports event right from a stadium where the game is actually taking place in real time. The only disadvantage of regular online sports betting is that it’s confined to people’s living rooms. Mobile sports betting is capable of eliminating this limitation.
Newest statistics point out that in most countries mobile sports betting is more popular than both traditional sports betting and traditional PC online sports betting. It’s believed that mobile sports betting will in a few years be the biggest revenue generator in the online gaming industry.
HOW SPORTS BETTING WORKS
If you’ve always wanted to bet on sports events but never knew how this works or how the betting odds are set, then this guide will clear all doubts and give you an excellent insight into everything related to sports betting.
How to Bet on Sports Events
First of all, we need to make clear that in sports betting it’s not uncommon to see much more betting possibilities than just that on game results. In fact, the high paying bets are those that give you the opportunity to guess half time results, scores and even player achievements. But in this guide we will focus on an ordinary game’s result bets only, because they are the base for all other bets.
As you know, if you bet on a game’s result you will have three options available, namely that team 1 wins (marked as “1” on the ticket), that the game ends with a draw (marked as “x” on the ticket) and that team 2 wins (marked as “2” on the ticket).
If you guess the outcome right, you’ll win. The amount of money you’ll win will be calculated taking in consideration the quota related to your pick. What is the quota you ask? This is actually the most noteworthy thing you need to remember as it both indicates the amount you’re supposed to win, but also the possibility for your pick to be correct.
The quotas or betting odds are determined by the bookmaker in advance, depending on the performance of each team, the expected results and many more. The rule is that if a team is more likely to win, then the quota attached to that pick will be less profitable. Let’s see an example:
Assume that Team A is playing against Team B. A classic sports betting ticket would look like this:
|Team:||1. Team A||X||2. Team B|
Now, you’ll have the opportunity to either choose “1”, “X”, or “2”. As you see, “X”, meaning draw has the best betting payouts, but usually draw games are pretty rare and should only be chosen if you’re totally sure what you’re doing and are optimistic about this result. Team 1 is the favorite to win the game, so the number will be lower in its case. Team 2 is likely to lose and, therefore offers a better paying bet.
To understand the whole system you need to know that your money will be paid out according to your bet multiplied with the quota of your pick. If you bet $10 and chose option “1” and guessed it right, you’ll be paid out $12. If you chose “2” and that was the correct pick, you’ll win $28.
Advice: In the end, you should always base your decisions on your knowledge. Even if, the odds are against you, you need to remember that sports betting has nothing to do with luck. Bet according to your sports expertise.
What Determines the Betting Odds?
Like we mentioned, the odds or the quotas are determined by the bookmaker according to the likely outcome of a game. But sportsbooks also change these odds – or also called the line – according to the number of bets for each pick. They do this because they earn money from the small commission charged on placing a bet. Obviously they want to make sure that the money they’re giving out for the winners will be covered with the money paid in by the losers.
Tip: In the case of online sports betting you’ll have the chance to see the line (or the odds) being changed in real time, even during an on-going game. This gives you the opportunity to take some last-minute decisions that have the potential to reward you with a huge sum of cash.
The things described in this article gave you a lot of excellent advice if you aren’t already familiar with sports betting. If you want to learn more, like how live betting or more exotic bets work, then read our other articles, as well.